Al-Mawashi company announces very ‘slim’ net profit of KD 7,000
New type of sheep introduced
KRCS officials distributing coupons to the needy for Eid.
KUWAIT CITY, Aug 8: Kuwait Livestock Transport and Trading Company (Al-Mawashi) has announced a very thin net profits of about KD 7,000 for the first half of the year, attributing the huge slump in profits to the measures initiated by the Australian authorities since last May, most notably reducing the load of sheep transported in ships and increasing the transportation costs, reports Al-Anba daily.
The company explained that the major biyearly financial indicators were negative due to Australia’s new requirements for live sheep transportation, which reduced a vessel’s maximum capacity by up to 40 percent. Therefore, the company’s operating costs increased as a result of the higher shipping costs and higher operating costs in the second quarter because of the hike in sheep prices from the exporting country.
Meanwhile, Al-Mawashi has already introduced new types of sheep such as Iranian sheep, local Arab sheep and Jordanian sheep. It has also completed its preparations for Eid Al-Adha by providing “sacrifices” of different types of sheep — Australian, local, Arab, Jordanian and Iranian – in line with the conditions of sacrifice.
Al-Mawashi is preparing for the experimental opening of the Capital slaughterhouse and livestock market built on an area of 94,000 square meters. It will be the largest slaughterhouse, in terms of building and production capacity, in Kuwait and in the region.